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<p>Bitcoin whales, investors who hold large amounts of Bitcoin, have notably <a href="https://twitter.com/i/bookmarks?post_id=1751274269626028458" rel="noopener noreferrer nofollow">increased</a> their holdings. According to data analytics firm IntoTheBlock, these major players have added approximately $3 billion to their Bitcoin holdings since the beginning of the year, equating to around 76,000 BTC. This development is a key indicator of the confidence and investment strategy of the largest holders in the cryptocurrency space.</p>
<h2 id="holder-distribution">Holder distribution</h2>
<p>The term "whales" in the cryptocurrency world refers to individuals or entities that hold large quantities of digital currencies. Historical data reveals a dynamic shift in the distribution of Bitcoin holdings.</p>
<p>The distribution of Bitcoin holdings across different investor classes provides further insights into market trends. Over a 30-day period, smaller holdings saw mixed changes: Accounts with 0-0.001 BTC increased by 1.02%, while those holding between 0.001-0.01 BTC and 0.01-0.1 BTC witnessed decreases of 1.90% and 1.36%, respectively. Notably, accounts holding between 10K-100K BTC saw an increase of 2.88%, reflecting a concentration of wealth at the higher end of the spectrum. When analyzing addresses by their holdings in USD, a similar trend emerges. Addresses holding less than $1 increased by 4.61%, while those holding over $10 million decreased by 2.15%.</p>
<p>Recent trends show a 1.31% decrease in whale holdings over 30 days, juxtaposed with a 2.15% increase among investors and a marginal 0.02% decrease in retail holdings.</p>
<p>Interestingly, the seven-day change in large holders' inflow increased by 119.83%, while the 30-day and 90-day changes showed a decrease of 83.23% and 91.25%, respectively.</p>
<p>This contrastingly large outflow in the short term, with an increase of 8,274.96% over seven days, indicates a volatile yet strategic play by these large holders, impacting the overall market sentiment and pricing.</p>
<h2 id="underwhelming-price-performance">Underwhelming price performance</h2>
<p>The month <a href="https://www.coingecko.com/en/coins/bitcoin/historical_data" rel="noopener noreferrer nofollow">opened</a> with Bitcoin at a value of $42,208 and witnessed a notable surge, reaching a high of $49,000 following the approval of multiple Bitcoin ETFs.</p>
<p>However, the cryptocurrency did not maintain this upward trajectory. Mid-month, Bitcoin saw fluctuations, with its price oscillating between $41,801 and $43,148, indicating a period of uncertainty and adjustment among investors.</p>
<p>This trend continued as the Bitcoin price dropped below the $40,000 mark. The latter part of January showcased a partial recovery, with the cryptocurrency closing at $42,120 on Jan. 27 after opening at $41,863.</p>

Bitcoin Whales Boost Holdings by $3 Billion

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